DIXVILLE — Balsams Resort Developer Les Otten recently brought out his remaining partner in the Balsams redevelopment.
Otten’s company, North Country Coos LLC, now owns 100 percent of the resort and its surrounding real estate.
The Balsams Resort was purchased from the Tillotson Corp. in 2011 by Colebrook natives, Dan Hebert and Dan Dagesse. The two formed Balsams View and solicited Otten to help them redevelop the property and ski area.
Three years ago, Dagesse, who owns a number of auto dealerships, sold his 50 percent share in Balsams View to Otten’s company. Since the sale, Otten has since served as lead developer while Hebert retained partial ownership. Now, Hebert has sold his remaining 50 percent share to Otten’s company.
Hebert, who owns a construction company, said he was proud to partner with Dagesse to purchase the historic resort when other buyers pulled out and its future was uncertain.
In 2014, he said the pair realized a bigger vision was required, and recruited Otten, whom he described as a “ski resort visionary” to oversee the development. Hebert noted that Otten and his team have put together a $180 million renovation and expansion plan and have obtained most of the required permits.
“At this point, I have owned part of the Balsams property for nine years. I fully believe Les and his team will succeed in bringing this beautiful resort back to life, but at this time in my life and career, selling my interests is the right thing to do,” Hebert said.
Otten said Hebert had helped save the Balsams and put it on the path to development and he was proud to have partnered with him. He said he will carry on the initiative Hebert and Dagesse started.
“I know I will continue to consult with Dan Hebert regularly and further tap into his institutional knowledge of the Balsams as we move forward with our vision to restore and expand this iconic resort,” Otten said.
Otten said he was able to purchase Hebert’s share of Balsams View because his company secured an additional investor in Annmarie Turcotte of New Hampshire.
“The Balsams is a special place that I hope will be enjoyed by generations to come, and I am grateful for the opportunity to join in its development efforts,” Turcotte said.
The Coos County Planning Board last month to approved extending the Balsams planning permit for four years, until January 2025.
Otten told the board his team is actively working on the Balsams and has invested over $11 million in the project.